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Genesis Housing Development Corporation

Genesis Housing Development Corporation

Chicago, IL 60619
Tax ID36-4150441

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About this organization

Revenue

$488,160

Expenses

$592,083

Mission

GHDC had a variety of programs, including Community Education Programs that provided counseling, advise, and financial support for homebuyers, as well as homeowners that are in danger of losing their homes to foreclosure or nonpayment of mortgage. There is also a Real Estate Development Program that buys foreclosed single family houses or two flats and rehabs them and either sells them to low income individuals or rents them to section 8 low income individuals. Finally, GHDC has Illinois DCEO Weatherization and REAT Programs, which helps low income homeowners to properly weatherize their homes to save on gas and electricity and helps defray the repair and/or replacement costs of furnances, heaters, and air conditioners.

About

Genesis Housing Development Corporations mission is the re-neighboring for the communities on the near south side of Chicago through developing single and multi-family low to moderate income housing projects, and educating the public with respect to matters concerning home ownership and rentals. Genesis HDC engages in housing development activities, which is the cornerstone of the Organization. The Housing Development Program offers rental and home ownership options to low income individuals.The Community Education and Empowerment program promotes wealth building through home ownership approach to community development. Genesis HDC offers home buying classes, counseling, and credit management services to local residents. Intervention and mediation services for mortgage holders are also offered. Genesis HDC is a United States Housing and Urban Development (HUD) certified counseling agency.Illinois Neighborhood Stabilization Program (NSP) is a neighborhood stabilization program designed to revive communities hardest hit by the current foreclosure crisis. Genesis HDC has targeted the Auburn-Gresham, Chatham, and Greater Grand Crossing neighborhoods as beneficiaries of their services.

Interesting data from their 2020 990 filing

The filing documents outline the non-profit's mission as “Genesis housing development corporations mission is the re-neighboring for the communities on the near south side of chicago through developing single and multi-family low to moderate income housing projects, and educating the public with respect to matters concerning home ownership and rentals.”.

When outlining the tasks it performs, they were referred to as: “Ghdc had a variety of programs, including community education programs that provided counseling, advise, and financial support for homebuyers, as well as homeowners that are in danger of losing their homes to foreclosure or nonpayment of mortgage. there is also a real estate development program that buys foreclosed single family houses or two flats and rehabs them and either sells them to low income individuals or rents them to section 8 low income individuals. finally, ghdc has illinois dceo weatherization and reat programs, which helps low income homeowners to properly weatherize their homes to save on gas and electricity and helps defray the repair and/or replacement costs of furnances, heaters, and air conditioners.”.

  • The non-profit's reported state of operation is IL as per legal requirements.
  • The filing reveals that the address of the non-profit in 2020 is 7735 S VERNON AVE, CHICAGO, IL, 60619.
  • As of 2020, the non-profit has 11 employees reported on their 990 form.
  • Does not operate a hospital.
  • Does not operate a school.
  • Does not collect art.
  • Does not provide credit counseling.
  • Does not have foreign activities.
  • Is not a donor advised fund.
  • Is not a private foundation.
  • Expenses are between $250,000 and $500,000.
  • Revenue is between $250,000 and $500,000.
  • Revenue less expenses is -$103,923.
  • The compensation policy for the CEO of the organization is established through a review and endorsement from an independent source.
  • The organization has a written policy that describes how long it will retain documents.
  • The organization has 5 independent voting members.
  • The organization was formed in 1997.
  • The organization has a written policy that addresses conflicts of interest.
  • The organization pays $374,697 in salary, compensation, and benefits to its employees.
  • The organization pays $0 in fundraising expenses.
  • The organization provides Form 990 to its governing body.
  • The organization has minutes of its meetings.
  • The organization has a written whistleblower policy.

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